While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
GBP/USD...is attempting an ORL day with a close below 165.18.
This is presently into near term support.
USD/CHF...is into support @ 90.25 (app 110.85 Futures)
EUR/JPY...is attempting an ORL day with a close below 144.50.
GBP/JPY...is attempting an ORL day with a close below 173.95.
This also put in a new 5 year high last night.
You're seeing a heavy unwinding of last years "Short precious Metals/ Long the continental ( Euro,Swiss,Pounds) currencies" trade being unwound.
EUR/JPY & GBP/JPY are the instrument that holds the most interest for me. It's been a one way train since July 2012.
A lot of money is coming off the table. This is not something to get in front of. This can turn into a very big correction.
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